Fortis Healthcare CEO Aditya Vij steps down

Aditya Vij, CEO of Fortis Healthcare Ltd, the second-largest hospital chain in the country, has resigned from the company, as per a stock market disclosure.

Vij, who has been CEO for India business unit of the company since mid-2011, had taken over the top role after Vishal Bali quit as group CEO of Fortis last year. Fortis had operations overseas in South-east Asia and Australia, which it exited recently.

His exit comes soon after the firm lost its CFO. Sandeep Puri resigned as group CFO of Fortis in September. He joined Fortis Group in March, 2012 as CFO. In addition, he was also in charge for the global consolidation process.

Puri has been replaced by Gagandeep Singh Bedi as new CFO.

Vij will be transitioning from Fortis by the end of the year, to pursue his family business and investments.

Co-promoter and executive vice chairman of the firm Shivinder Singh, the younger of the two billionaire brothers, will assume additional responsibility for the company’s operations in the interim while the search for a new CEO is on, the company said.

Fortis scrip tanked 4.4 per cent in a weak Mumbai market on Thursday.

Fortis operates the second-largest hospital chain in the country and the top diagnostics services business under SRL.

After buying some assets from its promoters in Asia Pacific it became one of the first Indian healthcare firms to build a strong overseas business. However, it took a u-turn from its previous strategy of going international, by selling its largest overseas healthcare assets in Vietnam, Australia and Hong Kong.

The firm is now focusing on India. It also went asset light by spinning out physical assets into a Singapore-listed entity.

(Edited by Joby Puthuparampil Johnson)

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